What was your first impression of how Bitcoin works?

[Callido]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

My first impression after joining the forum and knowing about Bitcoin was how it was different from other cryptocurrencies, for those who had encounters and learnt their lessons after venturing in one or few altcoins before joining Bitcoin. In Bitcoin you begin to see strategies on how to invest, and ways to secure your investment, the Bitcoin blockchain was another thing to wrap one's head around, as a beginner to be honest everything at that early stage weighs a lot until after some time you begin to understand every single thing gradually.

[Marykeller]

If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Take your security measures seriously. More especially, your seed phrase, don't misplace or let it out to anyone, because that serves as the key to your crypto assets. Misplaced it, your crypto assets are gone forever.

Another impression I hold on to is, crypto transactions are not reversible. Cross-check the crypto wallet address thoroughly before clicking send

[Antotena]

My first impression after joining the forum and knowing about Bitcoin was how it was different from other cryptocurrencies, for those who had encounters and learnt their lessons after venturing in one or few altcoins before joining Bitcoin. In Bitcoin you begin to see strategies on how to invest, and ways to secure your investment, the Bitcoin blockchain was another thing to wrap one's head around, as a beginner to be honest everything at that early stage weighs a lot until after some time you begin to understand every single thing gradually.

I joined to the forum when meme were getting started, I remembered I used to call my self meme degen, it was a normal word people used for meme coins founder that do give profits little did I know I was doing rubbish. I got to the forum and everything about my perception changes, when I stared to understand how Bitcoin works I make sure anything meme isn't longer my thing again, I don't want to associate myself with meme coins again including discussion.

Bitcoin is so big that the more you read the more you learn, there is no rest, I have understood now wallet works, I understand node, I understand the Bitcoin network, I have understand everything about address and how transactions are confirmed and many more but they are not the complicated things about Bitcoin, everything was exciting and I love the fact that I learnt those things back then, they are helping me today whenever I see myself on any Bitcoin discussion.

[Asiska02]

For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

I can’t really say what my first impression about bitcoin goes though, but I remember vividly that most of the things about Bitcoin I got to know was from this forum and that made me even become more confident in the technology. I wouldn’t say I was scared of Bitcoin when I first heard about it even though the narratives about it then was a negative one, I never got the time to look into it but when I did, I quickly spot out the positive aspect of it which made me disregard everything negative about it with the help of this forum which guided me more.

When you’re with people that share the same like minds as you, you’ll easily grow to navigate the good and bad parts of the concept being discussed and that’s how all the negative sensation in me about bitcoin died. In whatever one has learnt about bitcoin, they should always have this in mind that “Not your keys, Not your coins”. If this phrase is being understood and practiced well, everything about bitcoin is secondary to learn and can be learnt overtime.

[_BlackStar]

Bitcoin is completely different from other fiat currencies - it has no physical form, but have functions just like any other currency. Bitcoin is not controlled by any single party including governments and this is called decentralization. So, in short you are the ultimate custodian of your bitcoin and are responsible for the security of your assets.

The main impression of bitcoin - it is the most sought after currency when someone no longer trusts the centralization of fiat currencies and their systems. But you need to know that - do not store your bitcoin with third parties ^{[not recommended]} because of the risks involved.

[irhact]

If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Internet money that was my first impression and I was thinking this isn't going to grow more than it has grown but the market has prove me wrong. Bitcoin has developed more than just an online money and it's now becoming a currency to be used for both online and physically with the introduction of Bitcoin cards that can be used to withdraw real cash from Bitcoin ATMs. The market has grown too big too and now we have different exchanges that can be used to buy and sell Bitcoin. We now have leverage trading exchanges that wasn't always a big thing before. My impression on Bitcoin has changed and it'll continue to be positive henceforth.

[Dzwaafu11]

Good to be here. Read and observed the forum since I joined and must say I like how detailed the discussions here are compared to social media platforms. As a beginner I noticed some topics are mentioned a lot like wallets, security nd scams but I still feel there are always new perspectives. For instance my first impression of bitcoin is that it is more about personal responsibility than anything else. If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

Agreed with you. Note your keys, not your crypto. Is that your first impression? Because if it’s me, when I first heard about Bitcoin, my first impression was how it works: you, as the owner of the Bitcoin, will be the one who is in charge of your money, no third party, and no one will know what you sent out or you send in, and that is freedom, I think. Freedom was also another thing that made me believe in Bitcoin and made me get into it.

[Rockstarguy]

If you loose your keys, you loose your coins and that feels different from banks. For those who have been in the game longer, what was your first impression when you realized how it actually works?

your first impression does not really matter as such. what matters is the truth about bitcoin and the whole ecosystem which helps protect you from losses of any kind. As a newbie there is going to be so many wrong impression you will have most of which tilt towards an ideal believe about bitcoin that are actually too good to be true. that is a common thing with most investors and forum users but with time, you should learn by going through threads on the forum which will guide you into real fact about bitcoin and not just an impression that is based on some random narrative you got outside.

As for your keys, it is as important as your coin so if you value your coin, you sure want to ensure that you keep your keys as safe and secured as possible.

Impression most times is just how we feel about something and doesn't really matter whether what we feel about the thing is really what the thing is. No matter what one feels or thinks about Bitcoin, it is very important to get the real understanding of what Bitcoin is all about because impression won't save you when it comes to Bitcoin, but what you really understand is what will guard you in doing the right things.

It is expected that we will all have different impressions of how it works, but I think it is so dangerous to just rely on and accept the impression of what we think without having the main understanding.

[Josefjix]

The first thing that impressed me about Bitcoin was the ability to trace where the money I gave to my child or to the government was actually spent! Just imagine: being able to check what taxes are really used for! That would truly be a revolution!

This is purely the truest dream that ever came through unlike what you can't find in any other financial system, no companies had ever made customers see what's going on in another users transaction history but can't touch his portfolio, that's absolutely amazing but built trust with it's users.

[Questat]

Bitcoin is completely different from other fiat currencies - it has no physical form, but have functions just like any other currency. Bitcoin is not controlled by any single party including governments and this is called decentralization. So, in short you are the ultimate custodian of your bitcoin and are responsible for the security of your assets.

The main impression of bitcoin - it is the most sought after currency when someone no longer trusts the centralization of fiat currencies and their systems. But you need to know that - do not store your bitcoin with third parties ^{[not recommended]} because of the risks involved.

With bitcoin, being decentralized becomes an asset or an advantage towards being centralized. Knowing you can be with your own bank, and gain financial freedom from the government or banks, that reason alone is a big edge for us, while those who prioritize using fiat will always be monitored by those centralized entities.

This is a realization that I only know when I’ve entered the forum. And to be honest, I don’t see bitcoin this way at first. In fact, I even doubted bitcoin before if its actually legit or just a big scheme.